Mutual of America Capital Management LLC Trims Holdings in Stryker Corporation (NYSE:SYK)

Mutual of America Capital Management LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,024 shares of the medical technology company's stock after selling 1,167 shares during the quarter. Mutual of America Capital Management LLC's holdings in Stryker were worth $14,899,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYK. Norges Bank bought a new position in shares of Stryker during the 4th quarter valued at about $1,710,744,000. GAMMA Investing LLC lifted its stake in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. FMR LLC increased its holdings in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Stryker in the 4th quarter valued at $154,140,000. Finally, Northern Trust Corp grew its holdings in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK traded up $2.00 on Monday, hitting $391.46. The stock had a trading volume of 1,266,795 shares, compared to its average volume of 1,354,218. The stock has a market cap of $149.41 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business's 50-day simple moving average is $384.79 and its two-hundred day simple moving average is $377.20. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Citigroup reaffirmed a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $428.55.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.